Evansville-based OneMain Holdings Inc. (NYSE: OMF) is reporting third quarter net income of $288 million, compared to $250 million during the same period a year ago. The lender says its strong Q3 earnings were driven in part by an improvement in economic conditions.
“Our strategic initiatives and favorable economic conditions have put our company on the trajectory of meaningful expansion, resulting in strong year-to-date growth in receivables,” said Doug Shulman, chairman and chief executive officer of OneMain. “During the third quarter demand for our core lending products was strong.”
The company, which focuses on personal loans, launched a new credit card which Shulman expects will be the next driver of growth for OneMain.
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